NATIONAL NATURAL GAS FACTS Natural gas production is expected to grow by more than 10% this year in the North Carolina and South Carolina states.
The North Carolina Department of Environmental Quality reports that natural gas demand in North Carolinas grew by more or less the same amount as demand in the U.S. in 2017, although the state’s demand growth was slower than the U-S.
North Carolina’s total natural gas production will rise by more like 20% this summer and by about 3% the following summer.
In addition, the state will increase its overall natural gas consumption from 2.3 billion cubic feet of natural gas in 2020 to 2.7 billion cubic fuses in 2022.
North Carolinians have been encouraged by recent state and federal investments in renewable energy sources, including solar, wind, geothermal, hydroelectric, and natural gas.
In 2017, the North Carolinian natural gas generation capacity of 2.5 billion cubic FUs was the highest among the U,S., and the U.-S.
The average natural gas price in the state was $4.35 per cubic FU in 2016, according to the American Gas Association.
Natural gas has also been a factor in North Carolina’s economic recovery and job creation.
In 2015, North Carolina became the first U. S. state to reduce its carbon emissions to 40% below 2005 levels by 2030.
In 2016, North Carollinas economy generated $8.4 billion in state and local tax revenue and $7.4 million in federal tax revenue.
The state also became the fifth U. States to implement a cap-and-trade program to combat global warming, which it is also expected to complete by the end of 2020.
The U.K. and Australia have also invested heavily in renewable technologies in North America.
In 2020, the U of A and the University of Newcastle in England announced that they will double their renewables generation by 2030 to 10 gigawatts by 2050.
In May, North Carolins largest utility, Duke Energy, and the North American Electric Reliability Corporation (NERC) announced that the two utilities will invest $3.7 trillion over the next five years to support wind, solar, and geothermal projects.
North Carolinians will continue to receive assistance in the form of grants and loans through the UCR program.